Great Variety of Investment Options that 403(b) Plans Bring to the Table
Based on the Investment Company Institute and BrightScope data, an average large 403(b) plan provided 27 core options. It’s implied that recognizing the importance of plan design and features that will help to attract and retain qualified workers is crucial for nonprofit employers sponsoring 403(b) plans. According to a study from 2015, nearly all 403(b)...Read More
Important Lessons on 401k Contributions
In a recent video from 401kTV, we heard from Colleen Anderson, an Analyst on the Chick-Fil-A, Inc. Retirements Benefit Team. In her interview with 401kTV, they discussed the importance of company contributions and early eligibility as a critical tool for the health of their 401(k) plan and the retirement planning of participants. In an industry...Read More
What are the Best Ways to Avoid a 401K Fiduciary Lawsuit?
There are general guidelines provided by ERISA to follow by plan fiduciaries to avoid any unpleasant surprises in their practice when working with retirement plans. To successfully avoid any litigation and not to fall prey to any lawsuits, it is of a paramount importance to make sure that the necessary infrastructure and tools are in...Read More
New 401k Regulation to Give Participants Estimated Monthly Retirement Income on Account Statements
As reviewed by a recent article from InvestmentNews, there is even more regulation in the works for the retirement industry. New 401(k) disclosures may require many 401(k) investment providers to give a “monthly estimate” for what their current retirement savings amount to. While lots of big name investment providers in the industry are against this...Read More
15 Useful Weekly Stats for Financial Advisors: Week of December 10, 2018
Matt Meyer and Michael Robinson are founders of The BluePrint Insurance Services. Their mission is to be the premier insurance partner for RIAs and comprehensive financial advisors. The BluePrint provides an operational insurance platform that allows our partners to provide the highest level of insurance access and support. We feature weekly update with permission: Matt...Read More
When Wasteful Plan Fiduciaries Tell You That Savings You Propose Are Not “apples-to-apples”
When it comes to bringing a needed change to a retirement plan, there will usually be a fair amount of push-back from the third-party administrator or a plan’s record-keeper or current plan fiduciaries. Advisors using the 401kFiduciaryOptimizer quant analysis tool can analyze any 401(k) plan and visually see how much the plan can save...Read More
5 Articles for the Financial Advisor Weekend Reading List: December 8-9, 2018
Here are five suggested articles for financial advisors to read this weekend: 1. The Latest In Financial Advisor #FinTech (December 2018) – Welcome to the December 2018 issue of the Latest News in Financial Advisor #FinTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology...Read More
Here is How 401K Advisors will Benefit from Newly Proposed DOL Rules
Advisors could benefit from the proposed MEP regulations by being able to aggregate new and existing clients in the same geographic area into one common 401(k) plan. In October the DOL expanded the rules under which small businesses can aggregate participants into a common workplace retirement plan. This expansion reduces the restrictions around which business...Read More
Will Open MEPs Lead to More Opportunities for Financial Advisors?
President Trump with his Executive Order on Retirement plans expanded the horizons of better retirement to many people who before had no chance to retire comfortably and securely. It helps to close the gap between many employees working for small companies which do not have the ability to set up an internal retirement plan for...Read More
Overcoming Digital Marketing Barriers as a Financial Advisor
According to a recent article from financial-planning.com, financial advisors are falling behind in the digital era of marketing. The key issues where advisors need to improve are original content and overall engagement on digital platforms. The article goes on to suggest several solutions to the issues at hand: First of all, in order to achieve...Read More